Finding signs of accounting irregularities and potential fraud

For outsiders to trawl through the published information of a listed issuer when they suspect that accounting irregularities and potential fraud occurred, is a difficult and usually thankless task.

Above all, who will pay for their time so invested?  Certainly not the company being investigated!

The only way to generate revenue using this approach, is to sell the share short in anticipation of the truth eventually being exposed – such as we saw in the spectacular subsequent implosion of Steinhoff following Jooste’s resignation on 6 December.

Read the fascination behind-the-scenes detail of how Viceroy, an independent research group based in the US, investigated Steinhoff and sold the shares short based on their troubling findings.

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